Highlight from Our ESG Research: Inclusive Banking

At Domini, we conduct proprietary in-house research to evaluate the social and environmental performance of our investments. Our in-depth, independent ESG research and high standards help create prosperity not only for portfolios, but for people and planet too. During our research process, we discover many innovative initiatives worth sharing.

Bank customers and broader communities often face serious hurdles, such as discriminatory lending practices and inadequate financial education.i, ii East West Bank has made strides to enact more equitable banking practices. The bank was founded in 1973 with a focus on serving the Chinese-American community in southern California—but now operates over 120 locations across the U.S. and China.iii East West has strong management and board diversity,iv and compared to many peers, and is especially committed to meeting the needs of unbanked and underbanked populations. In 2020, 2% of its assets, representing over $1 billion, promoted community development. Further, the company’s investments in affordable housing partnerships have increased by 3% since 2019.iv East West is also a leader in financial literacy education, offering programs in multiple languages that are tailored to various audiences—including young adults, the elderly, and small businesses.v Banks like East West, which maintain diverse management and inclusive banking practices, play a key role in improving financial equity.

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East West Bank

Bank customers and broader communities often face serious hurdles, such as discriminatory lending practices and inadequate financial education.i, ii East West Bank has made strides to enact more equitable banking practices. The bank was founded in 1973 with a focus on serving the Chinese-American community in southern California—but now operates over 120 locations across the U.S. and China.iii East West has strong management and board diversity,iv and compared to many peers, and is especially committed to meeting the needs of unbanked and underbanked populations. In 2020, 2% of its assets, representing over $1 billion, promoted community development. Further, the company’s investments in affordable housing partnerships have increased by 3% since 2019.iv East West is also a leader in financial literacy education, offering programs in multiple languages that are tailored to various audiences—including young adults, the elderly, and small businesses.v Banks like East West, which maintain diverse management and inclusive banking practices, play a key role in improving financial equity.

https://morningconsult.com/2021/08/17/unbanked-underbanked-demographic-profile/

ii https://newsroom.haas.berkeley.edu/minority-homebuyers-face-widespread-statistical-lending-discrimination-study-finds/

iii https://investor.eastwestbank.com/corporate-profile/default.aspx

iv https://www.eastwestbank.com/Content/docs/EWB_ART_ESG_Report_082421.pdf

https://www.eastwestbank.com/en/financial-literacy